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Axcelis Technologies, Inc.

ACLS

Axcelis Technologies, Inc. • NASDAQ
$82.77 ▲ 0.78% (+0.64)
Market Cap $2.57 B
52w High $102.93
52w Low $40.40
Dividend Yield 0%
P/E 19.52
Volume 132.75K
Outstanding Shares 31.00M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $213.611M ▲ $63.786M ▲ $25.986M ▼ 12.165% ▼ $0.83 ▼ $34.478M ▼
Q2-2025 $194.544M ▲ $58.378M ▼ $31.376M ▲ 16.128% ▲ $0.98 ▲ $40.867M ▲
Q1-2025 $192.563M ▼ $59.609M ▼ $28.579M ▼ 14.841% ▼ $0.89 ▼ $38.76M ▼
Q4-2024 $252.417M ▼ $61.692M ▼ $49.956M ▲ 19.791% ▲ $1.54 ▲ $64.356M ▲
Q3-2024 $256.564M $63.057M $48.576M 18.933% $1.49 $60.604M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $449.56M ▼ $1.352B ▲ $331.796M ▲ $1.02B ▼
Q2-2025 $549.842M ▼ $1.323B ▼ $301.103M ▼ $1.022B ▼
Q1-2025 $587.059M ▲ $1.341B ▼ $313.38M ▼ $1.027B ▲
Q4-2024 $571.343M ▼ $1.349B ▲ $335.991M ▼ $1.013B ▲
Q3-2024 $579.407M $1.338B $362.531M $975.594M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $25.986M ▼ $45.35M ▲ $1.378M ▲ $-32.775M ▲ $13.852M ▲ $43.335M ▲
Q2-2025 $31.376M ▲ $39.727M ▼ $-4.613M ▼ $-46.987M ▼ $-10.23M ▼ $37.742M ▲
Q1-2025 $28.579M ▼ $39.795M ▲ $40.469M ▲ $-20.11M ▼ $60.446M ▲ $34.835M ▲
Q4-2024 $49.956M ▲ $12.78M ▼ $9.121M ▲ $-14.543M ▲ $4.345M ▲ $8.122M ▼
Q3-2024 $48.576M $45.748M $-56.553M $-15.993M $-25.098M $41.849M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Aftermarket
Aftermarket
 $60.00M ▲$60.00M ▲$50.00M ▼$60.00M ▲
Systems
Systems
 $200.00M ▲$190.00M ▼$140.00M ▼$130.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Axcelis has grown very quickly over the last several years, with revenue rising strongly from 2020 through 2023 before easing a bit in 2024. Profitability followed a similar path: margins improved meaningfully as the business scaled, then slipped from peak levels in the most recent year but remain much stronger than earlier in the period. Earnings per share are still several times higher than they were four years ago, even after that step back. Overall, this looks like a company that moved from “niche but small” to “solidly profitable,” but is now feeling some of the usual semiconductor cycle pressure in its top line and margins.

Balance Sheet

Balance Sheet The balance sheet looks solid and steadily stronger over time. Total assets and shareholders’ equity have grown consistently, suggesting the company has been reinvesting profits back into the business rather than relying heavily on borrowing. Debt levels are low relative to the size of the company, and cash remains meaningful even though it has trended down from earlier highs, likely reflecting investment in growth and operations. In simple terms, Axcelis appears conservatively financed with a good equity cushion and only modest financial leverage.

Cash Flow

Cash Flow Cash generation has generally kept pace with earnings growth. Operating cash flow improved significantly over the five‑year period, though it, like earnings, cooled somewhat after a strong peak year. Capital spending has been modest relative to cash from operations, so free cash flow has been consistently positive. This suggests an asset‑light model where the company can convert a good portion of its accounting profits into actual cash, even if year‑to‑year swings occur with the industry cycle and working capital needs.

Competitive Edge

Competitive Edge Axcelis occupies a focused and defensible niche in semiconductor equipment: ion implantation. Its Purion platform is deeply embedded in customers’ production processes, especially for advanced power devices like silicon carbide chips used in electric vehicles and industrial power systems. Once a tool is qualified in a fab, switching to another vendor is costly and disruptive, which creates high switching costs and supports a durable installed base. The service and spares business layered on top of that installed base provides recurring, less cyclical revenue. Key risks are the inherent volatility of semiconductor capital spending, potential technology shifts, and competition from larger equipment makers, but Axcelis’s specialization and strong position in power devices give it a meaningful competitive edge.

Innovation and R&D

Innovation and R&D The company is highly R&D‑driven, with its innovation centered on the Purion family of ion implanters. It has pushed particularly hard into tools optimized for power semiconductors and wide‑bandgap materials such as silicon carbide and gallium nitride, which are critical for electric vehicles and energy‑efficient industrial equipment. The new Purion Power Series+ platform extends this strategy by offering more flexibility across wafer sizes and materials, aiming to stay ahead of customers’ process requirements. Continued R&D investment is essential here: Axcelis’s edge depends on maintaining best‑in‑class process control, throughput, and support for new device architectures as the industry evolves.

Summary

Axcelis shows the profile of a specialized semiconductor equipment maker that has scaled up rapidly and profitably over the last several years. Revenue and earnings have grown strongly, although the most recent year reflects a normalization from peak conditions. The balance sheet is clean, with low debt and growing equity, and cash flows have been consistently positive, supporting reinvestment without stretching the finances. Competitively, the company benefits from deep focus on ion implantation, high switching costs, and a growing installed base that feeds recurring service revenue, particularly in the structurally attractive power semiconductor market. The main things to watch are how it manages through semiconductor cycles, how fast customers adopt its newest platforms, and whether ongoing R&D keeps it at the leading edge of power device manufacturing needs.

NEWS

November 6, 2025 · 8:00 AM UTC

Axcelis Announces Participation in Upcoming Investor Conferences

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November 4, 2025 · 7:00 AM UTC

Axcelis Announces Financial Results for Third Quarter 2025

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October 22, 2025 · 8:00 AM UTC

Axcelis Announces Timing and Availability of Third Quarter 2025 Results and Conference Call

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October 7, 2025 · 5:30 PM UTC

$HAREHOLDER ALERT: The M&A Class Action Firm Announces An Investigation of Axcelis Technologies, Inc. (NASDAQ: ACLS)

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October 3, 2025 · 2:02 PM UTC

VEECO INSTRUMENTS INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Veeco Instruments Inc. - VECO

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